Disney has reported increases in revenue and operating income for its theme parks for the second quarter ended 30 March 2024.
Disney’s experiences segment, which includes the company’s theme parks and cruise line, posted revenue of $8.39 billion the second quarter. This is an increase of 10 percent from the same period in 2023.
Operating income in the experiences division rose by 12 percent for the second quarter to $2.28bn. This was due to higher results at Walt Disney World in Florida and Disney Cruise Line, but partially offset by lower results at Disneyland in California.
Higher results at international parks
Growth in operating results at Disney World were put down to increased guest spending attributable to higher average ticket prices. At Disney Cruise Line, higher results were due to an increase in average ticket prices.
As for Disney’s international parks, higher results were due to increases at Hong Kong Disneyland, including guest spending and attendance, as well as the launch of World of Frozen in November 2023.
Disney’s parks and experiences “remained an impressive financial driver in the quarter”, Disney CEO Bob Iger said in a post-earnings call.
“We are focused on turbocharging growth with a number of long-term strategic investments,” he added.
Disney is to invest $30bn in its theme parks over the next decade as part of a total $60bn investment in its experiences division.
The $30bn includes the $1.9bn DisneylandForward development, and a major Magic Kingdom expansion.
On the Disneyland expansion, which has now received final approval, Iger said: “We’re incredibly excited for the many potential new stories our guests could experience at Walt’s original theme park, including the much-anticipated opportunity to bring Avatar to Disneyland.”
The plan for Disneyland also includes potential experiences based on Frozen, Tangled, Peter Pan, Zootopia, Toy Story, Black Panther, Coco, Encanto and Tron.
Images courtesy of Disney
